Already doing it
I haven't said so, but the current G-Technology has a bootable Carbon Copy Cloner clone of the current OS (Minus data). Awkward to set up since I am not sure what part of ~/Library could be safely let out (older CCC version is hard to configure properly, and once set, can't be edited), but if I am near the Time Machine backup AND have the bootable clone handy, I can recover from an internal HDD breakage in less than 30 minutes. Obviously this has the persistent issue that, if this occurs while I am away from the TM backup, it may take more than 30 minutes to recover since my offsite backup, SpiderOak, isn't reliable when it comes to download, plus I would have to find a wifi access point.
On the other hand, I can't reasonable have both the virtual machines-holding external drive AND the Time Machine + bootable partition drive at the same time on the road. Both require fast connections, sure, but virtual machines take a great deal of space, so as Time Machine, but mustn't run at the same time (TM being automated), for performance reason. I have yet to find a drive fast and large enough to serve all these functions together while remaining in a 2.5" format. Even the seek time on a 2.5" Thunderbolt rotating drive serving these application will slow it down considerably, I believe.
Since backing up all data both on and offsite isn't feasible, I opted for no backup for easily replaceable data (Movies), single backup for not-so-important data (e.g. Music files), on-site and remote backup for personal files (courses, bills, etc), and triple backup for mission-critical data (current academic projects, lab data), the third one being a sufficiently large USB key left wherever I happen to work most often. The only weak link here is the buggy SpiderOak client.
My first post question needs to take into account the backup model I want to implement. No easy task to cater for so many variables.